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IG Group has announced the reacquisition of The Small Exchange, a futures exchange based in Chicago, from Foris DAX Markets, Inc., enhancing its U.S. presence and trading capabilities. The deal is part of IG Group's strategy to expand its offerings for retail investors. The Small Exchange, known for its advanced trading technology, was initially acquired by Foris DAX in March 2022. Founder Tom Sosnoff expressed optimism about the exchange's potential to innovate and grow in the futures market over the next decade, aiming to make futures trading more accessible.
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IG Group reacquires The Small Exchange, enhancing its product offerings for retail investors.
Access to advanced trading technology and risk-monitoring systems from The Small Exchange.
Potential for market expansion and innovation in futures trading.
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Revolutionary Futures Exchange to Rejoin IG Group’s Retail Trading Ecosystem and Continue Its Mission to Make the Futures Markets More Accessible for Retail Investors and Participants of All Sizes
CHICAGO & LONDON--(BUSINESS WIRE)--
IG Group, a leading global fintech whose U.S. presence includes IG North America, as well as tastytrade, tastylive, tasty software solutions and IG US, today announced that it had entered into an agreement with Foris DAX Markets, Inc. to acquire the Small Exchange, a futures exchange based in Chicago and launched in 2019. IG Group previously held a stake in the Small Exchange, which was acquired by Foris DAX Markets, Inc., the parent company of Crypto.com, in March 2022.
The acquisition will enable IG Group to continue expanding its range of products and services available to retail investors and traders in the U.S. and to leverage the Small Exchange’s trading technology. The Small Exchange has created a world-class trading system, risk-monitoring system and matching engine.
“We’re excited to have had the opportunity to reacquire the Small Exchange,” said Tom Sosnoff, Founder, tastylive. “The future of market structure in the US depends heavily on product innovation at the exchange level, and I’m confident we can build an exchange that will scale and become a market leader over the next decade.”
Based in Chicago, the Small Exchange – backed by award-winning industry innovators and powered by a proprietary trade matching engine – is a registered Designated Contract Market (DCM) with the Commodity Futures Trading Commission (CFTC). The Small Exchange’s mission is to become the world’s largest customer-centric futures exchange, bringing products that bridge the product gap for investors of all sizes by providing futures products that are smaller, more capital efficient, simple to use, and easy to understand for all participants. The company facilitates the trading of exchange-created proprietary products for all types of market participants including, but not limited to market-makers/liquidity providers, Introducing Brokers (IBs), Futures Commission Merchants (FCMs), proprietary trading firms and hedge funds, all with a primary focus on the public retail customer.
About IG
IG Group (LSEG:IGG) is an innovative, global fintech company that delivers dynamic online trading platforms and a robust educational ecosystem to power the pursuit of financial freedom for the ambitious. For nearly five decades, the Company has evolved its technology, risk management, financial products, content, and platforms to meet the needs of its retail and institutional clients. IG Group continues to innovate its offering for the new generation of tomorrow’s investors through its IG, tastytrade, tastylive, tastycrypto, IG Prime, and Spectrum brands.
Established in 1974, IG Group is a London-headquartered FTSE 250 company offering its clients access to ~19,000 financial markets through its offices spread across Europe, North America, Africa, Asia-Pacific, and the Middle East.
What is the significance of IG Group reacquiring The Small Exchange?
The reacquisition allows IG Group to enhance its offerings for retail investors and leverage innovative trading technology.
When did IG Group acquire The Small Exchange?
IG Group announced the acquisition on April 3, 2023.
What impact will the acquisition have on IG Group's stock symbol IGGHY?
The acquisition is expected to positively influence IG Group's position and growth potential in the futures market, which could impact its stock performance.
How does The Small Exchange benefit retail investors?
The Small Exchange aims to simplify futures trading, making it smaller and more capital-efficient for all market participants.
